Saturday, November 22, 2014

This will be a short, but busy holiday week. The key reports this week are the second estimate of Q3 GDP, October New Home sales, October personal income and outlays, and September Case-Shiller house prices.

For manufacturing, the November Dallas and Richmond Fed surveys will be released this week.

Also, the NY Fed Q3 Report on Household Debt and Credit will be released on Tuesday.

----- Monday, November 24th -----

8:30 AM ET: Chicago Fed National Activity Index for October. This is a composite index of other data.

9:00 AM: FHFA House Price Index for September 2013. This was original a GSE only repeat sales, however there is also an expanded index. The consensus is for a 0.4% increase.

9:00 AM: S&P/Case-Shiller House Price Index for September. Although this is the September report, it is really a 3 month average of July, August and September prices.

This graph shows the nominal seasonally adjusted National Index, Composite 10 and Composite 20 indexes through the August 2014 report (the Composite 20 was started in January 2000).

The consensus is for a 4.5% year-over-year increase in the National Index for September, down from 5.1% in August (consensus 4.8% increase in Comp 20). The Zillow forecast is for the Composite 20 to increase 4.7% year-over-year in September, and for prices to increase 0.1% month-to-month seasonally adjusted.

10:00 AM: Richmond Fed Survey of Manufacturing Activity for November.

10:00 AM: Conference Board's consumer confidence index for November. The consensus is for the index to increase to 95.7 from 94.5.

11:00 AM: NY Fed Q3 2014 Household Debt and Credit Report. The New York Fed will also release an accompanying blog, which will analyze household deleveraging.

8:30 AM: The initial weekly unemployment claims report will be released. The consensus is for claims to decrease to 288 thousand from 291 thousand last week.

8:30 AM: Durable Goods Orders for October from the Census Bureau. The consensus is for a 0.5% decrease in durable goods orders.

8:30 AM: Personal Income and Outlays for October. The consensus is for a 0.4% increase in personal income, and for a 0.3% increase in personal spending. And for the Core PCE price index to increase 0.2%.

9:45 AM: Chicago Purchasing Managers Index for November. The consensus is for a reading of 63.2, down from 66.2 in October.

9:55 AM: Reuter's/University of Michigan's Consumer sentiment index (final for November). The consensus is for a reading of 90.0, up from the preliminary reading of 89.4, and up from the October reading of 86.9.

10:00 AM: New Home Sales for October from the Census Bureau.

This graph shows New Home Sales since 1963. The dashed line is the September sales rate.

The consensus is for an increase in sales to 470 thousand Seasonally Adjusted Annual Rate (SAAR) in October from 467 thousand in September.

10:00 AM ET: Pending Home Sales Index for October. The consensus is for a 0.6% increase in the index.

----- Thursday, November 27th -----

All US markets will be closed in observance of the Thanksgiving Day Holiday.